Associated Banc Corp Trims Stake in Comcast Co. (NASDAQ:CMCSA)

Associated Banc Corp lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 378,119 shares of the cable giant’s stock after selling 24,623 shares during the quarter. Associated Banc Corp’s holdings in Comcast were worth $14,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Promus Capital LLC purchased a new position in shares of Comcast during the fourth quarter valued at about $25,000. Winch Advisory Services LLC grew its holdings in Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after purchasing an additional 502 shares during the period. Roxbury Financial LLC purchased a new stake in Comcast in the fourth quarter worth about $27,000. Wingate Wealth Advisors Inc. purchased a new stake in Comcast in the fourth quarter worth about $28,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Comcast in the third quarter worth about $30,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 2.1 %

Shares of Comcast stock opened at $35.43 on Friday. The company has a market cap of $133.96 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company’s 50 day moving average is $35.92 and its 200 day moving average is $39.20. Comcast Co. has a twelve month low of $32.50 and a twelve month high of $45.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. Research analysts anticipate that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 2nd will be given a $0.33 dividend. The ex-dividend date is Wednesday, April 2nd. This is an increase from Comcast’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.73%. Comcast’s dividend payout ratio (DPR) is presently 31.81%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent research reports. Macquarie cut their price objective on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Scotiabank cut shares of Comcast from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $48.00 to $44.50 in a report on Monday, February 3rd. Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. The Goldman Sachs Group cut their price objective on shares of Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Barclays dropped their target price on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.